WATCH: Danny McBride to play Crocodile Dundee's son in reboot

Los Angeles - More than 30 years after Mick "Crocodile" Dundee delighted audiences by wrestling wild animals and facing down New York muggers with his massive knife, a reboot is in the works.

Dundee: The Son of A Legend Returns Home, the fourth film in the $600 million Crocodile Dundee franchise, will star Danny McBride as Brian Dundee, the son no one knew Mick Dundee had.

"I'm not going to lie to you, to be a real Crocodile Dundee, I think 95 percent of it is the vest and then five percent is just being able to not fall down and stay on your feet," said McBride in a statement released by Australian production house Rimfire Films.

The company, which produced the original film and its first sequel, said the movie was slated for release in the summer.

Paul Hogan, who co-founded Rimfire, became a global box office sensation in 1986 as Dundee, the atavistic Outback hillbilly with the iconic Akubra hat, in what remains the most commercially successful Australian feature ever.

"'Crocodile Dundee is a film that has stood the test of time. It was a defining moment in my life and one of my proudest accomplishments," said Hogan.

"Throughout the past few years, I've been thinking about how to bring Dundee to a new generation. I'm excited to introduce the new Crocodile Dundee to the world and look forward to sharing more news about those involved very soon."